Sharepoint Credit Union Mortgage Rates, Fees & Info

Bloomington, MN

LEI: 549300DL0FLZ3XZV5J76

Tax ID: 41-6024250

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Sharepoint Credit Union is a smaller credit union specializing in Cash Out Refi and Home Purchase loans. Sharepoint Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Minneapolis, Duluth, Faribault, St. Cloud, and Brainerd among others. We have data for 11 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Sharepoint Credit Union has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Sharepoint Credit Union is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

    We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.42% 5/4/24
    30 Year Conventional Refi 5.91% 5/4/24
    30 Year Cash-out Refi 6.50% 5/4/24
    15 Year Conventional Purchase 5.73% 5/4/24
    15 Year Conventional Refi 5.85% 5/4/24
    15 Year Cash-out Refi 5.85% 5/4/24
    These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

    Sharepoint Credit Union Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Sharepoint Credit Union. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    210

    Origination Dollar Volume (All Markets)

    $22,500,000

    Awards

    SHAREPOINT CREDIT UNION 30 Year Conventional Loans silver SHAREPOINT CREDIT UNION 30 Year Conventional Loans bronze
    Show all (2) awards

    Top Markets

    Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.

    Market Originations Total Value Average Loan Average Fees Average Rate
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 191 $20,525,000 $107,461 $1,104 5.10%
    Outside of Metro Areas 7 $1,055,000 $150,714 $2,104 4.02%
    DULUTH, MN-WI (FHA|USDA|VA) 3 $295,000 $98,333 $1,901 4.37%
    Faribault-Northfield, MN (FHA|USDA|VA) 1 $235,000 $235,000 $2,409 3.50%
    ST. CLOUD, MN (FHA|USDA|VA) 2 $150,000 $75,000 $319 9.98%
    Brainerd, MN (FHA|USDA|VA) 1 $95,000 $95,000 $2,499 4.00%
    Red Wing, MN (FHA|USDA|VA) 1 $45,000 $45,000 $209 3.99%
    Grand Rapids, MN (FHA|USDA|VA) 1 $45,000 $45,000 $259 3.99%
    Willmar, MN (FHA|USDA|VA) 1 $25,000 $25,000 $219 4.49%
    ROCHESTER, MN (FHA|USDA|VA) 1 $15,000 $15,000 $149 3.99%
    Hutchinson, MN (FHA|USDA|VA) 1 $15,000 $15,000 $209 3.99%
    Sharepoint Credit Union's top markets include Minneapolis, Duluth, Faribault, St. Cloud, and Brainerd among others.

    Their top states include:
  • Minnesota (FHA|USDA|VA)
  • Wisconsin (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against SHAREPOINT CREDIT UNION based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    ST. CLOUD FINANCIAL
    Similarity Rank: 978
    South Metro Federal Credit Union
    Similarity Rank: 1088
    First National Bank of Elk River
    Similarity Rank: 1110
    WESTconsin Credit Union
    Similarity Rank: 1216
    IDEAL
    Similarity Rank: 1221
    Liberty Bank Minnesota
    Similarity Rank: 1344
    SPIRE Credit Union
    Similarity Rank: 1368
    FLAT BRANCH MORTGAGE, INC.
    Similarity Rank: 1518
    Cornerstone State Bank
    Similarity Rank: 2002
    TOPLINE FEDERAL CREDIT UNION
    Similarity Rank: 2100

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 210 $22,500,000 $107,143 $1,138 5.06%

    For 2019, Sharepoint Credit Union's most frequently originated type of loan was Conventional, with 210 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 114 $12,050,000 $105,702 $1,018 4.97%
    Home Purchase 36 $5,500,000 $152,778 $3,189 4.73%
    Refi 25 $3,765,000 $150,600 $1,502 4.62%
    Home Improvement 23 $775,000 $33,696 $226 5.81%
    Other 12 $410,000 $34,167 $179 6.38%

    For 2019, Sharepoint Credit Union's most frequently cited loan purpose was Cash Out Refi, with 114 originations. The 2nd most popular reason was Home Purchase, with 36 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    10 Year 67 $5,625,000 $83,955 $259 5.63%
    15 Year 44 $6,000,000 $136,364 $1,883 5.29%
    5 Year 41 $1,565,000 $38,171 $249 4.73%
    Other 25 $2,485,000 $99,400 $576 4.47%
    30 Year 22 $4,030,000 $183,182 $2,751 4.48%
    20 Year 10 $2,690,000 $269,000 $2,611 4.44%
    3 Year 1 $105,000 $105,000 $0 4.00%

    For 2019, Sharepoint Credit Union's most frequently cited loan duration was 10 Year, with 67 originations. The 2nd most popular length was 15 Year, with 44 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 165 $15,475,000 $93,788
    $1k-2k 8 $1,030,000 $128,750
    $2k-3k 4 $790,000 $197,500
    $3k-4k 1 $315,000 $315,000
    $4k-5k 1 $605,000 $605,000

    Sharepoint Credit Union's average total fees were $2,751, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 165 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 101 $13,045,000 $129,158
    3-4% 57 $5,995,000 $105,175
    5-6% 28 $2,440,000 $87,143
    Over 8% 13 $555,000 $42,692
    7-8% 6 $330,000 $55,000
    6-7% 5 $135,000 $27,000

    During 2019, Sharepoint Credit Union's average interest rate for loans was 4.48%, while their most frequently originated rate bucket for loans was 4-5%, with 101 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 126 $5,440,000 $43,175 $446 5.36%
    $100k-200k 57 $8,535,000 $149,737 $2,008 4.72%
    $200k-400k 22 $5,490,000 $249,545 $3,097 4.44%
    $600k-1MM 3 $2,145,000 $715,000 $4,633 4.42%
    $400k-600k 2 $890,000 $445,000 $2,601 3.94%

    2019 saw Sharepoint Credit Union place emphasis on $100,000 or less loans with 126 originations, totaling $5,440,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 46 $4,140,000 $90,000 $1,161 5.33%
    $50k-75k 42 $3,530,000 $84,048 $1,034 4.79%
    $75k-100k 39 $3,415,000 $87,564 $1,100 5.11%
    $150k-250k 22 $3,900,000 $177,273 $1,136 4.76%
    $50k or less 21 $1,295,000 $61,667 $903 4.86%
    $250k+ 8 $1,860,000 $232,500 $2,403 5.67%

    Sharepoint Credit Union lent most frequently to those with incomes in the $100k-150k range, with 46 originations. The second most popular income band? $50k-75k, with 42 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 45 $4,035,000 $89,667 $995 4.95%
    30-36% 32 $2,570,000 $80,313 $1,085 5.46%
    <20% 22 $1,160,000 $52,727 $485 4.73%
    38% 10 $520,000 $52,000 $608 5.29%
    39% 8 $430,000 $53,750 $620 5.62%
    44% 7 $565,000 $80,714 $1,359 6.17%
    42% 6 $770,000 $128,333 $1,002 4.97%
    36% 6 $960,000 $160,000 $1,715 4.41%
    37% 6 $1,290,000 $215,000 $2,687 4.54%
    40% 6 $1,330,000 $221,667 $1,803 5.48%
    50-60% 6 $580,000 $96,667 $1,495 4.43%
    41% 5 $1,315,000 $263,000 $1,854 4.85%
    43% 4 $440,000 $110,000 $1,520 4.50%
    >60% 4 $450,000 $112,500 $1,030 5.18%
    49% 3 $375,000 $125,000 $1,510 4.12%
    45% 3 $445,000 $148,333 $1,713 4.54%
    46% 3 $355,000 $118,333 $1,187 5.12%
    48% 2 $440,000 $220,000 $3,290 4.50%
    47% 1 $185,000 $185,000 $1,478 4.00%

    Sharepoint Credit Union lent most frequently to those with DTI ratios of 20-30%, with 45 originations. The next most common DTI ratio? 30-36%, with 32 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not provided 93 $10,255,000 $110,269 $1,176 5.17%
    White 81 $7,635,000 $94,259 $1,130 4.93%
    Not applicable 31 $4,285,000 $138,226 $159 5.13%
    Black 1 $145,000 $145,000 $2,711 4.63%
    American Indian 2 $110,000 $55,000 $404 4.49%
    Asian 2 $70,000 $35,000 $159 4.87%

    Approval Rates

    Total approvals of all applications
    87.50%

    Sharepoint Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    63.81%

    Sharepoint Credit Union has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 210 $22,500,000 $107,143

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 1 $45,000 $45,000
    Single Family (1-4 Units):Site-Built 209 $22,455,000 $107,440

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 30 $2,420,000 $80,667 $586 4.96%
    40-60% 19 $2,705,000 $142,368 $2,185 4.30%
    60-80% 37 $7,655,000 $206,892 $2,441 4.47%
    80-100% 27 $4,965,000 $183,889 $3,199 4.52%
    Under 20% 85 $2,845,000 $33,471 $248 5.65%